Chimera Investment Corporation sponsors two residential mortgage securitizations


NEW YORK–(COMMERCIAL THREAD) – Chimera Investment Corporation (NYSE: CIM) announced that since the end of the second quarter, it has sponsored two residential mortgage securitizations with a total principal balance of $ 885 million.

On September 7, 2021, sponsored CIM 2021-R5, a securitization of $ 450.4 million of seasoned reproductive residential mortgage loans. The securities issued by CIM 2021-R5, for an aggregate balance of approximately $ 382.8 million, were sold through a private placement to institutional investors. These senior securities represented approximately 85% of the capital structure. Chimera retained subordinated interests in securities with a total balance of approximately $ 67.6 million and certain interest-only securities. Chimera also retained an option to repurchase the securitized mortgages at any time from August 2024. Chimera’s average cost of debt for this securitization is 1.99%.

In addition, Chimera sponsored its first agency-eligible loan securitization of 2021, $ 434.7 million from CIM 2021-INV1 in August. Chimera has retained subordinated interests in securities with a total balance of approximately $ 26.5 million and certain interest-only securities. The securitization has a 10% cleanup and is rated by Moody’s and Kroll.


This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections and, therefore, readers do not should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “target”, “assume”, “estimate”, “project”, “budget”, “anticipate”, “anticipate”, “intend to”, “plan”, “May”, “” “” could “,” should “,” believe “,” predict “,” potential “,” continue “and similar expressions are intended to identify such forward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are posted. Chimera neither undertakes nor accepts any obligation to publicly release updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in the events, conditions or circumstances on which such statement is based. Additional information regarding these and other risk factors can be found in Chimera’s most recent documents with the Securities and Exchange Commission (SEC). All subsequent written and oral forward-looking statements regarding Chimera or matters attributable to Chimera or any person acting on its behalf are expressly qualified in their entirety by the above cautionary statements.

About Chimera Investment Corporation

We are a publicly traded REIT primarily engaged in investing, with leverage, in a diversified portfolio of real estate assets including Mortgages, Agencyless RMBS, Agency CMBS, Real Estate RMBS agency and other real estate assets. .

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